Why now is the time to simplify ISAs to build financial resilience

Six different types of ISAs trying to different savings objectives

clock • 3 min read

ISAs have been worn down by complexity, writes Rachel Vahey. Here she looks at the current regime and says now is the time for policymakers to make changes...

Cast your mind back to April 1999. Were you already working, or still at school, or university? Were you listening to No Scrubs by TLC (riding high at number 1)? Maybe you were watching Peggy Mitchell marry Frank Butcher in Eastenders? Or were you monitoring the launch of ISAs, the successor of PEPs and TESSAs, and their effect on the UK savings market? ISAs have now been with us for nearly a quarter of a century. And on the whole, they are a success story. Recent research by AJ Bell shows that 96% of UK adults have heard of them, and 71% said they are familiar with them. But they ...

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